Jharkhand is putting in its share to prop up Finance Minister P Chidambaram’s initiative on Bhartiya Mahila Banks.
After Bank of Baroda opened an all-women branch at Tupudana in July, Central Bank of India is going to follow suit with two such branches by the end of September. Central Bank of India deputy general manager Smruti Ranjan Dash said, “We have finalised two all-women branches at Ranchi and Angada. At present, staff transfers to these branches are being checked.”
The first Bank of Baroda all-women branch of the State has three employees against the sanctioned strength of seven. Branch operational head Archana Tirkey said, “We are getting good response. Since this is an all-women bank, a good number of ladies have opened accounts here.” The branch has 700 accounts, of which 300 are of women.
Nonetheless, Shyam Sundar lal said, “This bank is easy to reach within our locality so I have come here. In fact, my entire family — be it a male or female member — have accounts here.” Branch officials feel more awareness is needed among women to increase participation. Cashier Princy Suman lakra said, “Women residing in rural areas still prefer to stay behind closed doors. They believe banking is not their cup of tea. If we advertise all-women banks, they are likely to come forward since they will feel comfortable here.”
The initiative can be seen in light of growing advances for women in the State. For the quarter ending of June, outstanding credit to women has increased Rs 4,473.62 crore year-on-year, from a 7.54 per cent share to 14.67. This is way ahead of the 5 per cent benchmark for lending to women. The Cabinet has allocated Rs 1,000 crore to women’s banks this month, to promote empowerment. Twenty-five such branches are planned across the country by the end of this fiscal.